OREANDA-NEWS. August 20, 2014. The Yaroslavl branch of Sviaz-Bank (Vnesheconombank Group) has opened a revolving line of credit of 150million rubles for a drawdown period of 36 months to the Yaroslavl Shipyard OJSC, within the framework of cooperation with the company. The borrower will use the loan funds to increase its working capital.

The Yaroslavl Shipyard OJSC is one of the oldest industrial enterprises in the region and operates a range of capacities to build a long line of ships and vessels for its customers that include the Russian Ministry of Defense, the Border Service of the Russian Federal Security Service, and FSUE Rosmorport, among others.

Sviaz-Bank started doing business with the Yaroslavl Shipyard OJSC in late 2013 when it opened a first line of credit to the company. By now, the company has borrowed 300 million rubles from the Bank in all.

“It is hard to overstate today the importance of the financial cushion for the manufacturing sector of the country’s economy. We put our trust in the company, in its productive potential, and in its prospects,” said Ilya Surov, Manager of Sviaz-Bank’s branch in Yaroslavl.